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Data shared by the Shibburn tracker of burn transactions shows that since last morning, a substantial chunk of meme coins has been destroyed. Meanwhile, the Shiba Inu price continues rebounding after hitting a major high recently.
Close to 30 million $SHIB burned to ashes
The aforementioned data source shows that within the last 24 hours, joined efforts of the $SHIB army have helped to transfer a total of 28,709,351 $SHIB meme coins to an unspendable blockchain address and out of the circulation supply for good. This has been achieved thanks to six transactions targeted at $SHIB burn wallets. The largest two of them carried 21,657,489 and 6,824,773 $SHIB.
Thus, another, albeit small, step toward Shiba Inu becoming a scarce asset has been taken.
$SHIB stages major price correction
Over the past two days, the second most popular meme cryptocurrency Shiba Inu has printed a massive decline in price, losing a tremendous 19.20%. The fall recorded over the last 24 hours constituted 13.17% from that value. After a recent peak when $SHIB burned two zeros and hit the $0.00003 level, it has by now rebounded to trade at $0.00002811.
The popular meme cryptocurrency has been following the major Bitcoin correction that began after the world’s pioneer crypto hit a new historic peak two days ago, reaching $73,750. By now, Bitcoin has plunged to the $68,321 price mark.